Motorola to buy video company BitBand

NEW YORK Mon Nov 16, 2009 8:44pm IST

Signage for Motorola is displayed outside their office building in Tempe, Arizona in this October 29, 2009 file photo. REUTERS/Joshua Lott/Files

Signage for Motorola is displayed outside their office building in Tempe, Arizona in this October 29, 2009 file photo.

Credit: Reuters/Joshua Lott/Files

Related Topics

NEW YORK (Reuters) - Motorola Inc on Monday said that it would buy privately held BitBand, an Israel-based video-on-demand technology provider, to expand its home video business.

Motorola said it would integrate BitBand into its Home and Networks Mobility unity, for which the company has reportedly been looking for a buyer willing to pay $4 billion to $5 billion.

Motorola, which is losing money on its mobile phones business, did not disclose the terms of the BitBand deal. It expects to close the transaction in the current quarter.

BitBand provides Internet-based television technology to 60 operators in countries such as Holland, Italy and Russia, Motorola said.

Shares of Motorola rose 8 cents to $8.86 in morning trading on New York Stock Exchange.

(Reporting by Sinead Carew, editing by Dave Zimmerman)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Deal Talk

Reuters Showcase

Yahoo Earnings

Yahoo Earnings

Yahoo ekes out Q3 revenue gain despite display ad weakness.  Full Article 

Cyber Attack

Cyber Attack

China-backed hackers may have infiltrated Apple's iCloud - blog.  Full Article 

Shopping Plans

Shopping Plans

Yahoo in talks to buy ad service BrightRoll - TechCrunch.  Full Article 

Data Breach

Data Breach

Staples says investigating possible payment card data breach.  Full Article 

Eavesdropping Agency

Eavesdropping Agency

Outgoing UK spy chief rejects mass surveillance claims.  Full Article 

Tech Deal

Tech Deal

Apple, supplier GT strike deal to unseal info, shutter Arizona plant.  Full Article 

Fat Paycheck

Fat Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage